- P. Chidambaram: PetrolMin, RBI 'too cautious' over gas price hike, new bank permitsElection Commission allows Raghuram Rajan's RBI to announce new bank licencesShares of banking licence applicants surge up to 12.5%After Election Commission's nod, Raghuram Rajan's RBI clears new bank licences for IDFC, Bandhan Financial
Shares of banking licence applicants who did not get RBI nod are under selling pressure.
JM Financials (-6.43%), L&T Finance Holdings (-10.03%), Shriram Transport Finance Company Ltd (-3.96%), Srei Infrastructure Finance (-8.14%) and LIC Housing Finance Ltd (-1.86%) were trading lower on the BSE at 11.45 am IST.
*Check Live Updates: BSE Sensex
The central bank has said, "some of those entities who did not qualify in this round for a full-fledged banking licence could well apply in future rounds or could apply for differentiated licences under the proposed framework."